Monday, March 30, 2015

New Signal EUR/JPY

*Position Update:  As of 04/01/2015 10:37 EST the Global Currency Scalper covered its EUR/JPY short position with a gain of 27.9 Pips.

As of 03/30/2015 @ 8:31 EST:

We have identified EUR/JPY as a possible short trade.  This pair has been in a downtrend since early December 2014 with very weak bounces.  The recent bounce failed to breach the 23.6% Fibonacci level and has fallen into a consolidation phase.  We believe this phase will eventually be broken to the downside.

The Global Currency Scalper will be taking a short position in EUR/JPY with a break of 128.800.  Target will be 128.250, then the figure of 128.000 and ultimately the figure of 127.000.  We will place our stop with a break of 131.000, any break of this figure before initiating our position will result in cancelling the order and making further analysis.

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